February 20. 2017 (UPDATED) — The industry had a scare last Thursday when it appeared that a large data breach occurred involving several dealer management system (DMS) providers and dealer groups. What actually happened was much more benign, and involved none of the DMS vendors. Nor did the event involve any sensitive personal data. The… Continue Reading
February 4, 2017 — In what may become the year’s biggest story in automotive retail, the long simmering battle over data access in the automotive retail world escalated yesterday when a third party vendor sued tech giants CDK Global, Reynolds and Reynolds and one of their joint ventures for engaging in antitrust practices. This is the first…
February 2, 2017 — As the National Automobile Dealers Assn. celebrated its 100 year anniversary at its annual convention in New Orleans last week, it capped an nine year period that might have been its toughest, yet finest hour. But 2017 brings a new set of daunting challenges. Playing Defense For the last nine years, the association…
January 16, 2017 — The Asbury Automotive Group is buying Hare Chevrolet and its affiliated companies — a collision center, an Isuzu dealership and a truck center. Hare Chevrolet, which sits a few miles north of Indianapolis in the town of Noblesville on State Road 37, is unique because it is the oldest family-owned transportation… Continue Reading
January 15, 2017 — Two words best describe this year’s Detroit Auto Show — Trump and autonomy. The vehicles? They were nearly an afterthought during press days at the North American International Auto Show (the show’s official moniker). Despite coming on the heels of a second consecutive record breaking year for sales, the mood on… Continue Reading
The autonomous and connected vehicle news coming out of the CES show this week in Las Vegas was fast and furious. The show’s automotive exhibit has become perhaps, the most important auto show in the country. In fact, CES’ growing popularity has forced both Los Angeles and Detroit to incorporate a mobility-related focus into their…
January 2, 2017 — M&A activity among automotive retail vendors for the year ended quietly with only four deals completed in the fourth quarter. Nevertheless, the 31 acquisitions and investments in 2016 surpassed the 30 in 2015. The four deals in the fourth quarter include (more information about the following deals are included in the…
UPDATED: December 13, 2016 — The Banks Report has learned that the Ron Tonkin Family of Dealerships is selling to the Gee Automotive Companies in Spokane, WA, confirming rumors the last several months that a sale was in process. An announcement is expected sometime in the next few days. Meanwhile, the deal is expected to close sometime… Continue Reading
Except for a couple of investments from JMI Equity, M&A activity in the automotive retail vendor space has been silent in the fourth quarter. With three weeks left to go in the year, there have been 27 investments or acquisitions among vendors to date. (For more analysis on investment and acquisitions in the automotive retail…
November 28, 2016 — Is a potential battle looming between automakers and tech firms with the government over security issues with over-the-air updates made possible by connected car technology? Billions of dollars are at stake for automakers, technology firms and even dealers, but comments from various government officials over the last several months indicate OTAs… Continue Reading
